Andrew Harthttps://illuminate.nucleusfinancial.com/taxonomy/term/1747
enAndrew Harthttps://illuminate.nucleusfinancial.com/blog/author/andrew-hart
<span>Andrew Hart</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/index.php/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Tue, 11/27/2018 - 10:11</span>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item">Andrew Hart is a Financial Planner with Serenity Financial Planning, based in London. He has worked in financial services for over ten years, initially focusing on the mortgage and insurance market but quickly realising that his passion was financial planning. Andrew has rapidly become a financial planning specialist and now coaches leading advisers and firms on Voyant planning software through his consultancy TheVoyantist.com</div>
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Tue, 27 Nov 2018 10:11:11 +0000admin22566 at https://illuminate.nucleusfinancial.comTech tips: the tools I use to make videoshttps://illuminate.nucleusfinancial.com/blog/tech-tips-tools-i-use-make-videos
<span>Tech tips: the tools I use to make videos</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Wed, 06/22/2016 - 08:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/andrew-hart.jpg" width="1000" height="560" alt="andrew-hart.jpg" title="Tech tips: the tools I use to make videos" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3>Check out Andrew Hart showing what tools he uses to make videos</h3>
<iframe allowfullscreen="allowfullscreen" frameborder="0" height="357" src="https://player.vimeo.com/video/156075752?title=0&byline=0&portrait=0" width="640"></iframe></div>
<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Wed, 22 Jun 2016 08:00:00 +0000admin14414 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/tech-tips-tools-i-use-make-videos#commentsAdvice strengths your clients might see as weaknesseshttps://illuminate.nucleusfinancial.com/blog/advice-strengths-clients-might-see-weaknesses
<span>Advice strengths your clients might see as weaknesses</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Fri, 05/20/2016 - 08:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/istock-522171599_72dpi.jpg" width="1000" height="560" alt="istock-522171599_72dpi.jpg" title="Advice strengths your clients might see as weaknesses" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3><strong>Check out the 6 strengths of elite advisers that clients may perceive as weaknesses</strong></h3>
<p>Regardless of how well we think we’ve trained our clients, they will still make most of their decisions on emotion over logic. We suffer from this when we make decisions in other realms of our lives. However hopefully we show fewer biases with our money management and our skills in achieving financial success.</p>
<p>In this article I will be sharing my thoughts on the strengths that elite advisers demonstrate which some clients may deem as weaknesses. As most mature money management and financial strategies are counter intuitive and against conventional wisdom. Modern media and access to ‘free’ information is maybe our biggest threat and our client’s most destructive influence. If you disagree with my list, write your own, it’s a good way of identifying where our strengths lie.</p>
<p>The sole purpose for my professional existence is to ensure my clients don’t blow themselves up. The world is full of financial landmines and we are our own worst enemies. We all know that clients are the biggest wealth destroyer of all and we don’t manage money (anymore) we manage people. However the client in front of us thinks we’re managing his/her money, when really the majority of my focus is in managing them. So let’s delve into the skills that may be seen as weaknesses.</p>
<h3><strong>1: Not reacting to current news.</strong></h3>
<p>You don’t need me to tell you that we are now bombarded with ‘news’, which I call Negative Events World Service. 24-hours news and sensationalist journalism are the enemy to financial success; never forget this. The media moves from one crisis to the next. We are never crisis-less. I know there’s a lot happening in the world. However companies will still be making things which people buy. Our clients mistakenly think we should be continually reacting to news and making decisions based on this. We know the truth (which is eternal) about managing money and clients, whereas the media just know news. Clients will mistake our lack of concern, with a lack of competency. Over time, 5 years+ they will start to see our wisdom and appreciate it.</p>
<h3><strong>2: Making very little changes with their portfolios.</strong></h3>
<p>We all know money is like a bar of soap, the more you touch it the less you have. Timing markets is a fool’s errand and predicting market swings is the preserve of the crazies. Misinformed clients emotionally may feel joy in an adviser continually tweaking their portfolio and what they’re invested in. The elite adviser knows the only sure indicators to long-term success (performance) are discipline and costs. Frequently picking outperformers in advance is impossible. Your lack of ‘action’ maybe perceived as a weakness but actually, it is one of your strengths.</p>
<h3><strong>3: Being ecstatic during periods of negative volatility.</strong></h3>
<p>If you’re a long-term investor, which means you have monthly automatic savings set up into the markets, you should have a smile from ear to ear during temporary (they are all temporary) market downturns. It could actually be argued this is the whole reason why you’ll be exposed to superior returns. It’s because you were disciplined during periods of low asset prices. The only item clients actively pay over the odds for are investment assets. They love sales in every other area of their lives yet they hate investment sales. The stock market offers, January sales, Easter sales, Black Friday, the lot. A tiny minority understand the impact of these. How many times has one of your clients said, ‘I’m loving the temporary market declines, I’m getting a lot more bang for my buck’.</p>
<h3><strong>4: Spending as little time as possible discussing investment performance.</strong></h3>
<p>We know lifetime financial success will be determined by behaviour and not making big financial mistakes – there are too many of those to list in this article. I aim to talk about investments for approximately 5% of my client planning meetings. As this is how much impact a ‘portfolio’ has on lifetime financial success. How much you save is far more important. What you want to achieve and when has more impact. Why would you want to spend any longer discussing the past and also something that is fundamentally out of our control? Some client’s will think that ‘investment performance’ is the main driver, so if you spend little time on this they may think this is a weakness. We are here to deliver uncomfortable truths and not comfortable lies. Performance chasing is like a patient going to see a doctor for more drugs. The doctor knows that the patient’s lifestyle is likely to have a far more profound effect on their health than the drugs that are prescribed. Rather than prescribe yet more drugs, the answer is exercise more, eat better, quit excess drinking and stop smoking, these are the route cause of the issues.</p>
<h3><strong>5: Always focusing on the future and spending little time worrying about now and the past.</strong></h3>
<p>We forget how skilled we are at thinking about the future (most people can’t process their future self). As I say to most of my clients, the 62-year-old sat in front of me is not my client. It’s the 92-year-old you’ll become in 30 years. I’m also not really bothered where they currently are, when we first meet. This is a snap shot of time; future planning is what I’m concerned about. They may perceive our lack of interest in their current position as concerning, when really it’s a mature skill.</p>
<h3><strong>6: Not having an immediate answer when asked a question.</strong></h3>
<p>Clients ask many questions, which is great as it shows they’re engaged. Some we can answer there and then, hopefully without boring them too much with the mess that is financial services. However some questions are too tough to answer on the fly, as they’re hyper complex. This can be expanded to all areas of life, you should be wary of someone who can answer any question without missing a beat. They’re either a genius or a fool, usually the latter. Intelligent people can often be heard saying ‘I don’t know, I’ll need to look into that’, I like to hear this as it shows humility. Those who least need help, seek it. Humble people often seek help, which is encouraging. Some clients however may think this exhibits a lack of knowledge, when in actual fact it’s to the contrary.</p>
<p>Financial advice is a noble profession; it’s hyper complex, full of emotion and continually evolving. We have to manage our client’s behaviour and emotions.</p>
<p>If you do what your client tells you to do you are perpetuating bad behaviour and you have lost, no question. You need to stop giving your clients what they want and be ruthless in giving them what they need.</p>
<p>This may result in uncomfortable discussions, maybe even clients leaving you. However being professionally authentic is crucially important in reaching the top of this mighty profession. I still have a lot to learn and I certainly don’t have all the answers, however I am ruthlessly aware of the biases which accelerate bad behaviour, we all need to train our bias bells and be ready to address them once they go off.</p>
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<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Fri, 20 May 2016 08:00:00 +0000admin13907 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/advice-strengths-clients-might-see-weaknesses#commentsWhy software isn’t the soft optionhttps://illuminate.nucleusfinancial.com/blog/software-isnt-soft-option
<span>Why software isn’t the soft option</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Wed, 02/24/2016 - 09:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/istock-832282452_72dpi.jpg" width="1000" height="560" alt="istock-832282452_72dpi.jpg" title="Why software isn’t the soft option" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3 class="p1"><span class="s1">Andrew Hart of Serenity Financial Planning and The Voyantist says the key to providing a holistic financial planning service is use of software. </span></h3>
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<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Wed, 24 Feb 2016 09:00:00 +0000admin17743 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/software-isnt-soft-option#commentsHow to win the robo warhttps://illuminate.nucleusfinancial.com/blog/win-robo-war
<span>How to win the robo war</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Wed, 01/27/2016 - 09:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/istock-1062921648_72dpi.jpg" width="1000" height="560" alt="istock-1062921648_72dpi.jpg" title="How to win the robo war" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3>How close are robo advisers getting to the financial adviser space? Andrew Hart of Serenity Financial Planning and The Voyantist takes a look and discusses what you can do to get ahead.</h3>
<p>Carl Richards of the Behavior Gap will talk – and sketch – about the value of a real adviser in a world currently obsessed with robots at our <a href="http://www.nucleusfinancial.com/financial-advisers/events/annual-strategy-event/?preview=true&preview_id=8821&preview_nonce=ebab392f93">annual strategy event</a> on 4 February. Limited places are still available. To book yours, please email <a href="mailto:events@nucleusfinancial.com">events@nucleusfinancial.com</a>.</p>
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<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Wed, 27 Jan 2016 09:00:00 +0000admin17723 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/win-robo-war#commentsFour pieces of tech you can’t live withouthttps://illuminate.nucleusfinancial.com/blog/four-pieces-tech-you-cant-live-without
<span>Four pieces of tech you can’t live without</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Wed, 11/18/2015 - 08:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/istock-598912704_72dpi.jpg" width="1000" height="560" alt="istock-598912704_72dpi.jpg" title="Four pieces of tech you can’t live without" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3>Andrew Hart of Serenity Financial Planning and The Voyantist discusses the four pieces of tech that can help make your practice more efficient, including a piece of online meeting scheduling software that’s saved him 10 hours a month.</h3>
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Wed, 18 Nov 2015 08:00:00 +0000admin11605 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/four-pieces-tech-you-cant-live-without#commentsThe retirement reforms six months onhttps://illuminate.nucleusfinancial.com/blog/retirement-reforms-six-months
<span>The retirement reforms six months on</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Mon, 10/19/2015 - 07:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/istock-485441942_72dpi.jpg" width="1000" height="560" alt="istock-485441942_72dpi.jpg" title="The retirement reforms six months on" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3>Andrew Hart takes a look at what’s changed since the retirement reforms were introduced in April, what might be coming up, and what he’d like to see in the government’s consultation.</h3>
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<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Mon, 19 Oct 2015 07:00:00 +0000admin11376 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/retirement-reforms-six-months#commentsWe’re entering the bionic adviser age - are you ready?https://illuminate.nucleusfinancial.com/blog/were-entering-bionic-adviser-age-are-you-ready
<span>We’re entering the bionic adviser age - are you ready?</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Mon, 09/28/2015 - 08:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/roboadvice_revised.jpg" width="1000" height="560" alt="roboadvice_revised.jpg" title="We’re entering the bionic adviser age - are you ready?" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h3>Is technology-driven ‘advice’ a threat or an opportunity for face-to-face financial planning? Andy Hart, financial planner with Serenity FP and founder of TheVoyantist.com takes a view.</h3>
<p>The rate of technological change over the last half century has been mind blowing. In the 1960s Gordon Moore was famous for observing that computing power was doubling every 18 to 24 months. This became known as Moore’s Law. Due to the compounding effect of such a discovery we are now at a point where computing power has become exponential.</p>
<p>Marc Andreessen is a wildly successful venture capitalist. His firm operates on the premise that ‘software is eating the world’<em>. </em>What will the advances in computing power and exponential technology mean for the average financial adviser? When will our profession be eaten?</p>
<p>You can picture the scene: “I’m sorry Mr Financial Adviser, pack your bags, the robots are here to replace you. It was fun while it lasted.”</p>
<p>We’ve all heard the term ‘robo adviser’. It’s important to first clarify exactly what a robo adviser is. Wikipedia describes it as ‘a class of financial adviser that provides portfolio management online with minimal human intervention’. Currently I have not found one firm or organisation that actually provides automated advice. ‘Advice’ being the key word. I know it’s possible, however I have not yet seen it. What I have seen is automated investment accounts. There are many companies around the world that provide such a service. The question is, are they going to disrupt the cosy world of personal financial advice? They may do - there is one company that provides ‘investment portfolio advice’ for free - yes for free. The race to the bottom in relation to fees has already been won; it’s literally free in that the fee for creating the portfolio and investing within it is zero (although custodian and ETF charges apply).</p>
<p>The portfolios that robo advice firms create are very similar in terms of their construction. They primarily offer low charging, globally diversified funds, predominantly ETFs. What they create can be easily recreated by an adviser within a packaged, risk-graded investment fund. However, as we know from history and experience, neither intelligence nor empirical evidence sells investment funds. Marketing does. The robo promoter’s pitch is, we’ll do what your bloated dinosaur financial adviser charges you around 2% to do, and we’ll do it for as near to free as we can get it. As professional advisers we know this view is biased and the comparison is far from fair but to the man in the street it could be compelling.</p>
<p>Our value, of course, is working with clients on an ongoing basis and ensuring they achieve their financial goals. Our role is to act as a financial behavioural coach - experts in emotional and human biases. We also have empathy and are skilled at thinking as if we were the client. Most importantly, given the complexities of the tax, pension and investment markets, financial advisers can stand between consumers and the potential to make some very large financial mistakes.</p>
<p>Hence, it is my belief that the current development with exponential technology does not threaten the position we have in the market. The fact that investment management is being demystified and opened up to the average person on the street is great news as far as I’m concerned – and it should be for you too.</p>
<h3>Enter the bionic adviser</h3>
<p>What is a bionic adviser? A bionic adviser understands that anything which can become binary i.e. 0 1 0 1 0 0, will be disrupted by computers and the growth of exponential technology. This is amazing – and it offers us fantastic opportunities. The bionic adviser is the intersection between robos and humans and creates an environment where both the computer and the human excel. There isn’t a fight between them but harmony of each one’s unique abilities. We require more firms to understand this and create platforms and solutions that marry the two together. I believe humans should do 10% of the work, which adds 90% of the value. The computers should do 90% of the work, which only adds 10% of the value.</p>
<p>Computers process information at lightning speed; they will beat the human in most of the activities we have to undertake as advisers. Those who know me well will know I’m a huge fan of financial forecasting software. Sophisticated financial forecasting software mirrors the environment in which we operate and so understands tax and financial rules. It incorporates hundreds of variables and seamlessly integrates them. Humans can’t do this. We control the machine but all of the calculations and interactions are effortlessly worked out instantly by the machine. However, we are still the experts – the 90% of the value.</p>
<p>Forward-looking, smart advisers are welcoming technological advances with open arms. Allowing the robos to help in the areas where they can create smoother processes and efficiencies.</p>
<p>We should be under no doubt that robos are disrupting this mighty profession; that is inevitable. However, using the right technology, this is a superb opportunity to outsource more of the boring mundane jobs that robos excel at and we humans struggle with. In my view, most of what we do can and should be automated. I always want to embrace future mindsets and operating practices. I do not see anything that cannot be automated in a modern financial planning firm. The only work we should be doing once the turnkey systems and processes have been set in motion is working with our clients in a live capacity on their personal financial plan and goals. Ensuring they get back to what’s important and continue to be disciplined investors and achieve their life goals.</p>
<p>In the UK we only really have one robo adviser; I welcome new entrants. As soon as they allow professional money on to their platforms, which they have done in America, I’m sure there will be a large migration of assets onto these platforms (not least because, in my opinion, most of the current platforms in the UK are not fit for purpose at the moment - but that is the subject for a separate article). The humans are still instructing way too many trades, which ultimately leads to errors. I do know there are firms working on bionic propositions – there are exciting times ahead for the bionic adviser.</p>
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<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Mon, 28 Sep 2015 08:00:00 +0000admin11182 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/were-entering-bionic-adviser-age-are-you-ready#commentsWhat is cash flow modelling?https://illuminate.nucleusfinancial.com/blog/what-cash-flow-modelling
<span>What is cash flow modelling?</span>
<span><span lang="" about="https://illuminate.nucleusfinancial.com/user/1" typeof="schema:Person" property="schema:name" datatype="" xml:lang="">admin</span></span>
<span>Tue, 02/17/2015 - 09:00</span>
<div class="field field--name-field-featured-image field--type-image field--label-hidden field--item"> <img src="https://illuminate.nucleusfinancial.com/sites/default/files/imported/posts/istock-641292238_72dpi.jpg" width="1000" height="560" alt="istock-641292238_72dpi.jpg" title="What is cash flow modelling?" typeof="foaf:Image" class="img-responsive" /></div>
<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p>Andrew Hart of The Voyantist reports on how cashflow modelling can benefit both clients and advisers. He discusses choosing the right cash flow modelling tool for your business, and how to adapt it within your financial advice process.</p>
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<div class="field field--name-field-author-tax field--type-entity-reference field--label-hidden field--item"><a href="https://illuminate.nucleusfinancial.com/taxonomy/term/1747" hreflang="en">Andrew Hart</a></div>
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Tue, 17 Feb 2015 09:00:00 +0000admin8186 at https://illuminate.nucleusfinancial.comhttps://illuminate.nucleusfinancial.com/blog/what-cash-flow-modelling#comments